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At some point, every business owner comes upon financial realities: Additional funds from lenders or investors may be needed to help the business grow. An acquisition may be appropriate – and could be the most cost-effective way to bring new customers into the fold. Or, for reasons that range from strategic to retirement, a merger/sale may be in the offing.
“Bill is a business attorney and significantly more. He is a strategic thinker who is able to identify and create opportunities for clients as they progress through the growth cycle of their businesses. He understands the advantages associated with properly timed and supported business acquisition, divestiture and recapitalization events and brings this knowledge to the table for his clients.” Ellen Huxtable, Business innovation speaker, trainer and author; community board member at Fermi National Accelerator Laboratory
Whether your option is buying, selling or recapitalization – or some combination of these – the process can seem daunting, especially if this is your first time facing these options. That’s why knowing about Bill Price and his GrowthLaw services matters. Let GrowthLaw help.
Cost to you would generally be 1% of sale price, due at closing.
Bill can explain various financing options, from loans and factoring to angel financing or selling your company – to outsiders or employees. One idea: A larger company may be willing to invest by purchasing a share of your business – or by buying the business outright. A buyout could still leave you running the business – or free you to move to a new enterprise.
New customers can fuel growth
The traditional way to grow a business is through acquiring new customers. You can do that by strategic product (or services) positioning; market research and prospect identification; plumbing your marketing and sales contacts; and decision input and conversations with customers during the selling cycle.
Or you can buy a company
Buying a competitor may make the most strategic sense for your company – if you find one that already targets your sector and sells similar products or services, this approach can bring your business new customers who already are familiar with the type of products/services you sell.
Mergers, acquisitions, and recapitalization resources
- How to Buy or Sell a Business This video, while long, is extremely informative. Lawyer Bill Price (especially knowledgeable about business transactions); business broker Linda Purcell; buy-side mergers and acquisitions advisor Ralph Dieckmann; and banker Larry Jones do a good job of simplifying a sometimes confusing process.
- The Business Buying Process And How To Find A Business To Buy Video of a business broker, a private equity investor, and two business lawyers (one of whom is Bill Price) discussing the process and issues involved in buying and selling businesses in this Illinois State Bar Association video.
- Clearing the Underbrush An August 22, 2014, talk to the Lincolnwood Chamber of Commerce on business options for managing health care costs, lawsuit risks, cash flow troubles, and minority interests or other barriers to enterprise value realization on sale or recapitalization.
- Legal Issues In Business Sales This 2014 PowerPoint presentation walks you through the somewhat difficult pilgrimage involved in purchasing or selling a business. It discusses nondisclosure agreements, letter of intent, final purchase agreement, and many disclosure and deception problems that face both buyers and sellers.
- Private Offerings After The JOBS Act This 2014 PowerPoint document describes the reports state and federal securities regulators require from persons and organizations wanting to raise money from private investors after the recent JOBS Act deregulation legislation. It also shows the process of making such offerings, and the documentation lawyers should get from their clients to prove they have not committed securities fraud – rendering them relatively safe from liability, even if the deal does not turn out to be profitable.
- Financing, Purchase Price, And Warranties This PowerPoint sequence describes various financing options available for small and mid-size business purchasers, as well as issues in negotiating the price and major warranties they will want as part of the final purchase agreement.